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Entain plc Acquisition of BetCity, one of the Netherlands’ leading online sports betting and gaming operators
Entain plc, the leading global sports betting, gaming and interactive entertainment group , announces that it has agreed to acquire the entire share capital of BetEnt B.V., which trades under the BetCity.nl name (“BetCity” or the “Company”), from Sports Entertainment Media B.V. for an initial consideration of €300m (approximately £257m1) and deferred contingent consideration of up to €550m (approximately £472m1).
BetCity is one of the Netherlands’ leading online sports betting and gaming operators. Headquartered in Amsterdam, BetCity received an online sports betting and gaming licence from the KSA (Kansspelautoriteit), the Dutch Gaming and Gambling Authority, in October 2021.
The newly regulated Netherlands online market is highly attractive and fast-growing across both sports betting and gaming. Since its licensing in October 2021, BetCity has delivered rapid growth, establishing a leading position with approximately 20%2 market share during the fourth quarter of 2021. This acquisition will create a strong market operator with significant growth opportunities, in line with the Group’s strategy.
BetCity’s offering is highly complementary to Entain’s bwin and Party brands which are awaiting approval for a licence to operate in the Netherlands – now expected during the latter part of this year as the KSA has recently requested additional documentation as part of the ongoing application process. The combination of BetCity’s local expertise, strong brand and large diverse user-base, with Entain’s global scale and market-leading platform will provide customers with a broader offering of engaging products, fresh content and new experiences.
Melvin Bostelaar, BetCity’s CEO, along with other key members of the leadership team, will remain with the Company.
Consideration structure:
- Initial consideration of €300m (approximately £257m1) is payable in cash at completion, with a balancing payment to be paid in early 2023 based on the actual performance of BetCity in the financial year 2022;
- A further contingent payment will be paid in early 2024, based on 10x BetCity’s EBITDA for the financial year 2023, less amounts already paid out;
- In addition, a final contingent payment of €50m (approximately £43m1) will be paid on delivery of synergies and successful migration to the Entain Platform;
The total consideration payable on current expectations is €450m (approximately £386m1). However, dependent on the performance of BetCity, the maximum consideration is capped at €850m (approximately £729m1). The combination is expected to deliver approximately €28m (approximately £24m1) of cost synergies, predominantly from technology, content and royalty benefits, by the end of 2026.
The initial consideration will be funded from existing cash resources and drawings on the Group’s revolving credit facility.
The acquisition is expected to complete during H2 2022.
Jette Nygaard-Andersen, CEO of Entain, comments:
“We are delighted that BetCity is joining Entain and are excited by the significant opportunities in the newly regulated Dutch market. This acquisition will provide customers with an even better experience as we combine BetCity’s local expertise and brand alongside Entain’s market leading, customer focused platform. This transaction further underpins our growth strategy of operating in attractive regulated markets. We look forward to working with Melvin and the BetCity team.”
Melvin Bostelaar, CEO of BetCity, comments:
“We are happy to be joining forces with a world-class group in Entain. Together we will be well-placed to maintain a strong market position in the Dutch market for the coming years. Entain’s market leading platform, technology, established brands and global scale provides a fantastic opportunity to expand and enrich our customer offering. Both BetCity and Entain position the customer at the heart of everything we do, with Entain’s core values and philosophy in responsible gaming, compliance and company-culture seamlessly aligning with those of BetCity. We look forward to a bright future together.”
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Relax Gaming unlocks medieval fortunes with Camelot Cash
Relax Gaming, the iGaming aggregator and supplier of unique content, has launched Camelot Cash, a folklore-inspired slot that takes players on a quest to uncover legendary treasures worth up to 5,000x their bet.
Following on from the success of popular titles, Immortal 5 and Winter Champions, Relax Gaming brings the Arthurian legend to life with a host of engaging features.
The game’s Cash symbol awards instant wins when part of a winning line, multiplying the value shown by the player’s bet.
Landing three or more Bonus Wilds, which also serve as wild symbols, activates the Free Spins feature. Players can earn 8, 16, or 24 Free Spins, with each level awarding up to three expanding symbols.
During the Free Spins, at least one expanding symbol guarantees additional win opportunities by covering the reel and paying out even if the symbols are not connected from left to right.
Landing more Bonus Wilds can reactivate additional free spins and expanding symbols, keeping players engaged and the action alive.
With its familiar mechanics and rewarding features, Camelot Cash is a versatile addition to any operator’s portfolio, designed to attract and retain a broad player base.
Shelley Hannah, CPO at Relax Gaming, said: “Camelot Cash delivers an immersive experience with a ‘book of’ style approach blended with cash prizes and our own innovative twist. Inspired by King Arthur’s tale, Camelot Cash is a combination of intuitive mechanics and engaging features, resulting in a medium volatility game that appeals to players.”
Established as one of the industry’s leading B2B suppliers, Relax Gaming was awarded GGA’s Product Launch of the Year in February 2023 for Dream Drop Jackpots. Money Train 3 names the 2023 CasinoBeats Game Developer Awards amongst its 6 Slot of the Year titles, while the brand also won the award for Skill Games Supplier at the 2023 EGR B2B Awards along with the Innovation in Mobile award at the 2023 SBC Awards.
Relax Gaming provides more than 4,000 online casino games, from its high-performing proprietary slots to a significant, varied library of content from hand-picked third-party studios via its partnership programmes.
The post Relax Gaming unlocks medieval fortunes with Camelot Cash appeared first on European Gaming Industry News.
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Evoplay hits the road with Europe Transit Snowdrift
Evoplay, the award-winning game development studio, has launched Europe Transit Snowdrift, a feature-rich slot designed to drive engagement and deliver results for operators.
Set against stunning winter landscapes, the title takes players on a journey across Europe to deliver goods, with gameplay enhanced by thematic elements and rewarding features.
The 5th reel features only Multiplier symbols that boost any winning payline. In the base game, active multipliers are x2, x3, x4, x5, x7, and x10, while Locked Multipliers (x15, x20, x50, x100) appear as blanks and unlock for big wins during Free Spins.
Players can earn additional spins during the bonus mode, ensuring extended gameplay and enhanced engagement.
The game’s Bonus Buy option allows players to instantly access the Free Spins feature for x80 the total bet in certain jurisdictions.
Europe Transit Snowdrift combines proven mechanics with fresh features, making it an adaptable and high-performing addition to operator portfolios.
Ivan Kravchuk, CEO at Evoplay, said: “Europe Transit Snowdrift brings together stunning visuals and exciting gameplay that players will love. The multiplier system and Free Spins feature add plenty of opportunities for big wins, while the Bonus Buy option gives operators a flexible way to meet player demand.
“We’re excited to launch this winter-themed game and look forward to seeing it engage players across global markets.”
The post Evoplay hits the road with Europe Transit Snowdrift appeared first on European Gaming Industry News.
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SPRIBE Inks Multiyear Partnership Deals with UFC and WWE to Amplify Global Reach of Aviator
SPRIBE Inks Multiyear Partnership Deals with UFC and WWE to Amplify Global Reach of Aviator
SPRIBE, the innovative software development company behind the viral online gaming sensation Aviator, is proud to announce it has reached multiyear sponsorship deals with UFC, the world’s premier mixed martial arts organization, and WWE, the recognized global leader in sports entertainment, These strategic partnerships mark a bold step in SPRIBE’s global expansion strategy, cementing its position as a dominant force in the B2B iGaming software market. In December alone, Aviator players wagered more than 14 billion USD worldwide.
Founded in 2018, SPRIBE is a leading iGaming software development startup with over 42 million unique monthly active users worldwide and operating licenses across most major markets, including the Gaming Commission in the United Kingdom. SPRIBE launched Aviator in 2019, making the company a dominant force in online gaming, particularly in the multiplayer genre.
Under the agreement with UFC, the Aviator logo will appear prominently on the Octagon canvas at every UFC event worldwide, accompanied by integrated social media campaigns and premium hospitality experiences. In parallel, WWE will showcase Aviator branding at select marquee events, further amplifying the game’s visibility among global audiences.
Aviator has achieved significant success in over 60 countries, including key growth markets like Brazil, India, and several countries in Europe and Africa. With a combined global reach of engaged fans across 170 countries, WWE and UFC provide SPRIBE with an unmatched international platform to propel continued growth for Aviator.
For WWE, the alignment with Aviator represents an opportunity to engage with a rapidly growing audience in the gaming sector.
“We’re thrilled to expand our partnership with SPRIBE across both UFC and WWE,” said Nicholas Smith, Vice President of Global Partnerships for TKO. “Much like UFC and WWE, Aviator is a pioneer in its own industry, reshaping the iGaming landscape with innovative, immersive, and engaging consumer experiences. Together, UFC and WWE provide brands with access to one of the most formidable marketing portfolios in sports, and we’re looking forward to working with SPRIBE to design custom integrations within our content that will help them reach millions more consumers around the world.”
The sponsorship deals include logo placements, exclusive social media activations, and premium hospitality access, with opportunities for future activations, including cross-promotions, content integrations, and co-branded campaigns.
SPRIBE strategic brand partnerships aim to build long-term brand equity to support key growth business drivers, including:
● Global Brand Visibility: UFC and WWE collectively command a massive international audience, with millions tuning in for events and engaging with social content. ● Key Markets Expansion: While Aviator has seen success in markets like Brazil and India, the U.S. remains a key target for growth.
● Customer Acquisition: The partnerships serve as a launchpad to introduce Aviator to millions of potential new users worldwide.
The post SPRIBE Inks Multiyear Partnership Deals with UFC and WWE to Amplify Global Reach of Aviator appeared first on European Gaming Industry News.
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